Compare Help to Buy ISA Accounts

Help to Buy ISAs are a generous government-backed tax-free savings vehicle for people who want to get on the property ladder. Compare top Help to Buy ISAs and start saving for your deposit.

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This ISA savings account is designed to take advantage of the Help to Buy Scheme, to boost your savings towards a deposit on a property by 25%

Pay in up to £1,200 in the first month you open your account, then up to £200 a month thereafter

When you are ready to buy your property, your conveyancer will claim your Bonus (25% of your closing balance) from the Scheme, to put towards your purchase. So for every £200 you save, the Government will contribute £50

The Help-to-Buy Scheme applies to properties in the UK with a purchase price of up to £250,000 outside London and £450,000 within certain London Boroughs as specified in the Help to Buy: ISA Scheme Rules

Nationwide Help-to-Buy ISA

This ISA savings account is designed to take advantage of the Help to Buy Scheme, to boost your savings towards a deposit on a property by 25%

Pay in up to £1,200 in the first month you open your account, then up to £200 a month thereafter

When you are ready to buy your property, your conveyancer will claim your Bonus (25% of your closing balance) from the Scheme, to put towards your purchase. So for every £200 you save, the Government will contribute £50

The Help-to-Buy Scheme applies to properties in the UK with a purchase price of up to £250,000 outside London and £450,000 within certain London Boroughs as specified in the Help to Buy: ISA Scheme Rules

n/a

2%AER

£1

n/a

Eligibility Criteria

Must be over 16 years of age

Must be an Eligible Customer and must never have owned a residential property, as set out in the Government's Help to Buy: ISA Scheme Rules

Nationwide Help-to-Buy ISA

This ISA savings account is designed to take advantage of the Help to Buy Scheme, to boost your savings towards a deposit on a property by 25%

Pay in up to £1,200 in the first month you open your account, then up to £200 a month thereafter

When you are ready to buy your property, your conveyancer will claim your Bonus (25% of your closing balance) from the Scheme, to put towards your purchase. So for every £200 you save, the Government will contribute £50

The Help-to-Buy Scheme applies to properties in the UK with a purchase price of up to £250,000 outside London and £450,000 within certain London Boroughs as specified in the Help to Buy: ISA Scheme Rules

Account Type

n/a

AER (interest rate)

2%AER

Minimum Opening Balance

£1

Notice Period

n/a

Apply

Apply

This table is comprised of help to buy isa products sorted by interest rate. Other tables feature products from other categories. Please ensure you have thoroughly investigated all available options before applying for products.

What are Help to Buy ISAs?

As UK property prices continue to outstrip earnings, the dream of owning a home has become ever more distant for many younger people. As a result, the UK government has responded, not by building more houses (which might seem logical), but by helping people to save for their first home with the Help to Buy ISA.

In many respects Help to Buy ISAs are similar to other ISA accounts. They enable people to save, tax-free. Where they differ, is that the UK government offers a 25% bonus on the savings deposited, up to £3,000.

How do Help to Buy ISAs work?

Help to Buy ISAs work like other ISA accounts. However, the maximum initial deposit is £1,000, and, after that, the maximum you can deposit every month is £200.

Before you can claim your government bonus, you'll a minimum balance of £1,600. So, assuming you manage to make the £200 deposit every month and start your account with the maximum £1,000, it will take four and a half years to gain the maximum bonus available from the government (£3,000).

Aside from the government bonus, you will also earn standard interest on your Help to Buy ISA. Although these rates vary from provider to provider, they tend to be higher than those available on standard ISA products.

Who can get a Help to Buy ISA?

Given that the Help to Buy ISA is clearly very generous, there are numerous restrictions as to who is eligible. As such, you can only apply for account, and use your government bonus, if meet the following criteria:

You must be 16 years old or over

You must not have owned property previously

You must use your Help to Buy ISA to fund a mortgage deposit

You can only buy property in the UK

The property you buy must cost less than £250,000 (£450,000 in London)

You cannot rent out the property you buy

Also, you cannot open a standard cash ISA in the same year as a Help to Buy ISA.

Switching Help to Buy ISA accounts

If you notice that the interest you are earning on your Help to Buy ISA is lower than that available from alternative providers, you can transfer your funds in the same way you can with traditional ISA products.

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